Royal Dutch Shell on Monday announced it’s stopping offshore oil exploration in Alaska for the foreseeable next next finding deposits uneconomic. The decision comes next the company got final approval to drill in the area a month ago.
Sourced through Scoop.it from: globserver.cn
"The Shell Alaska team has operated safely and exceptionally well in each aspect of this year’s exploration program," Director of Shell Upstream Americas, Marvin Odum said in a statement. "Shell continues to see significant exploration potential in the basin, and the area is likely to from presently on be of strategic importance to Alaska and the US. However, this is a clearly disappointing exploration outcome for this part of the basin.”